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IMDOM 066 IMDOM 066 66 ILLAWARRA MERCURY, Saturday November 29, 2008 BUY IT, SELL IT, TELL IT, Mercury Classifieds 13 24 25 ... 1749598 | Enhance Your Lifestyle NEW SHOWROOM LOCATED: Within Wollongong Wholesale Nursery Adjacent big Roundabout) Cnr Illawarra & Princes Highway, Albion Park Rail Stone Product Supplies "Design & Installation Service Available" Ph 4257 6677 www.stonetrends.com.au Luxurious living starts with the addition of natural stone to your home • FEATURE WALLING • TILES • PAVERS • COPPERS • DECORATIVE PEBBLES • WATER FEATURES • PEBBLE MESH BORDERS & TILES Now stocking: House of Bamboo Products, Nature Reed, Bamboo Screens, Timber Slat Screens 8kt1749598 fi 1749640 Vivienne Marris 0402 101 343 www.eldersjamberoo.com.au ELDERS REAL ESTATE JAMBEROO 4236 0891 7 DAYS Best Location - Great Investment! JAMBEROO 65 Macquarie Street, Jamberoo • Excellent First Home Buyer Opportunity • 3 Bedroom Split-Level Residence on 800 sqm • Cathedral Ceilings, Timber features • Open Plan Living with Slate floors • Currently tenanted -- Ideal Investment FANTASTIC PRICE $389,000 24 Churchill Street, Jamberoo • 973 sqm Almost level block of land • Solid two bedroom residence, needs T.L.C. • Possible re-development (S.TC.A.) • Centrally located to all village amenities POTENTIAL PLUS $420,000 20 Beattie Street, Jamberoo • 3 Bedroom, 2 Bathroom Solid Residence on 856 sqm • Three separate Living areas • Freshly painted inside and out • Detached tandem garage with office/ studio • Well cared for gardens, close to town GREAT VALUE FOR MONEY $469,000 44 Churchill Street, Jamberoo • 4 Bedroom Timber Residence on 916 sqm level block • 'State of the Art' Stainless Steel Kitchen • Huge covered timber rear verandah • French doors to front & rear verandahs • This home is ideal for indoor/outdoor living! NEW LISTING $520,000 22 Drualla Road, Jamberoo • 1124 sqm block of land N/E Aspect • Spacious 4 Bedroom/2 Bath Residence • 3 Separate Living areas, Formal Lounge/ Dining, Family Room with combustion heater and attractive parquetry flooring, fully tiled rumpus • Covered outdoor patio, dble tandem garage SUPERB VALUE! $549,000 12 Tate Place, Jamberoo • 908 sqm Almost level block of land N/E Aspect • Spacious 4 Bedroom/2 Bathroom Residence • Immaculate Presentation • Views over golf course, short walk away • One owner -- excellent condition FANTASTIC LOCATION $575,000 8kt1749640 br 1748027 Need a Lawyer? LAWYERS WOLLONGONG 30 Young Street 4228 6944 ALBION PARK 132 Tongarra Road 4257 6944 SHELLHARBOUR 29 Addison Street 4296 7444 Accredited Specialists Family Law Peter Williamson (Partner) We can assist with any of the following: • Criminal Law • Family Law • Commercial Law • Wills & Probate • Mortgages • Re-Finances • Litigation • Conveyancing www.verekers.net.au 8kt1748027 fi Mellissa Claydon (Licensed Conveyancer) Anne Mowbray (Partner) Sachin Naidu (Lawyer) Angela Winkler (Law Clerk) Vic Cuoco (Partner) Kate Leabeater (Lawyer) Chairperson of the Illawarra Real Estate Institute, Leigh Stewart, was asked about matters affecting first home buyers. Q: What is the reaction of the Real Estate Institute to the doubling of the first home buyers grant? The changes are fantastic news for first home buyers, combined with stamp duty concessions, falling interest rates and lower home prices there has never been a better time to enter the Illawarra real estate market. Home buyers have been waiting for house prices to stabilise. Unfortunately over the past few years they have seen interest rates rise slowly. The latest large rate cuts have counteracted most of the rises that took place over the last three years. With increased rents it is becoming harder and harder to save a deposit. The increase in the grant will allow young buyers to start using their rent money as repayment money and be secure in the knowledge that each and every week they are paying money towards what will eventually be their own asset, not helping a landlord accumulate wealth. Q: How will this affect first home buyers? First home buyers will be able to move quickly into securing real estate. There has already been increased activity in the first home buyer price brackets ($200,000 to $400,000) with sold signs appearing all over the Illawarra. Buyers will have to be on the boil as the better, well-priced homes are getting snapped up very quickly. Q: Will this alleviate pressure on the property market? Our property market starts with the first home buyer and their activity filters through to the whole market. When a person sells their three bedroom home they are usually looking at upgrading and so on and so forth. As they say 'activity breads productivity'. The recent changes must be good for our market place. Q: Could more have been done? I believe more must be done for other sectors of the market place. Investors, developers and the retiring market especially. Land Tax, Capital Gains Tax and stamp duty must be looked at. For example when a retired couple sells their family home to purchase a retirement unit -- to pay $20,000 stamp duty is ridiculous. They have contributed to the state for many years paying tax and to pay more in their retirement years, in my opinion, is unfair. This is also one of the reasons they find it hard to make the move due to associated costs. Developers need help in these harder times. The time it takes to have developments processed as well as the fees and charges and holding costs often makes developing all too hard with the overall loser been the local economy. Finally investors need to be encouraged to enter and invest in property. Land tax is still too high and in many cases when investors look at all the costs they look at other options. However in recent times with higher rents, lower interest rates and lower home prices we are seeing investors coming back into our market place. Q: What about the future of our Illawarra market? The Illawarra region due to its proximity to Sydney and its affordability will fair well in the coming years. Price levels in Wollongong are significantly lower than across Sydney, with these markets benefiting from the inward migration of residents due to a lack of affordability in the state capital. Total growth in the median house price in Wollongong over the three years to June 2011 is forecast to reach 17 per cent. We are living in rare times. After 20 difficult years of high unemployment and stagnant economic growth, there are signs we are entering a period of significant and sustainable prosperity. Look at the major investment in our region recently: · The expansion of Port Kembla to handle the states car imports and some container deliveries · The re-opening of two coal mines · Wollongong University's new medical school and innovation campus The opening of the Sea Cliff Bridge has been fantastic for our northern suburbs as too has the opening of the Kiama bypass. Both will continue to improve and attract people to our region. The new information centre at Bulli will attract even more tourist attention as will the recently opened Treetop Walk in the south. Property prices at the moment are very competitive. Buyers and investors are rejoining the market place and they will increase demand, hence putting upward pressure on prices. Q&A BY LYN OSBORN